Ayala Corp. (AC) is teaming up with Thailand’s CP AXTRA Public Company Limited to bring back Makro stores to the Philippines, reviving the international wholesale chain that exited the local market more than a decade ago.

The return of Makro will be spearheaded by a joint venture between ACX Holdings Corp., a wholly owned AC subsidiary, and Makro ROH Company Limited, a unit of CP AXTRA.

The two companies have formed a new entity called M&Co Corp., which will oversee the operations of Makro stores nationwide.

Makro, known globally for its cash-and-carry wholesale format, caters to both consumers and small business operators with bulk food and non-food products at discounted prices. The chain previously operated in the Philippines until 2012.

AC said on Wednesday the revived Makro stores will focus on offering a modern shopping experience while keeping products accessible to Filipino households and entrepreneurs.

“We are excited to partner with CP AXTRA to bring Makro back to the Philippines. Together, we seek to build on CP AXTRA’s proven success in delivering quality products at more affordable prices through the Makro format,” AC Head of Corporate Strategy and Business Development Mark Uy said.

For CP AXTRA, the Philippine market presents a strong growth opportunity.

The Thai retail giant described the country as “one of the most dynamic and fast-growing markets in Southeast Asia,” emphasizing that its wholesale and retail expertise will complement AC’s strong market presence, established customer base, and property development capabilities.

“This new partnership aligns with CP AXTRA’s strategy to expand our regional footprint, while positioning the company for sustainable long-term growth and value creation,” said Tanit Chearavanont, Group Chief Wholesale Business Officer of CP AXTRA.